Wednesday, April 26, 2017

Segwit looks like a tokenization service

A sandbox observation.
The trading pit reference design expected three things, the token, the coins and the trading bot. The bot is new and required since the pits auto-price. The coins had coinID and value.

The token connected the trading pit to some external conditions on the secure element issuing the trading request. The trading pit may require liquidity limits and pre-registration which can be enforced via the token. Or the trading pit is connected to an application, like a buyers club. The pits referred to a tokenization service to obtain conditions on the auto-trade request.

The token were issued by the secure element, using a script, established when then application is tapped. The null token always works in the sandbox, but may not be accepted at every pit.